The funds are targeted at training up to 60,000 more skilled construction workers to address labor shortages and help build 1.5 million homes, according to a statement on Saturday.

The injection, part of the UK government’s so-called skills agenda, is proposed at a time when the country’s finances are being heavily scrutinized as the chancellor pursues economic growth. The Labour government has pledged to invest in infrastructure as it seeks to boost the workforce without relying on immigration — while also stimulating the economy.

The construction sector is facing significant shortages, with figures from the Office for National Statistics showing more than 35,000 job vacancies. At the same time, employers report that over half of vacancies can’t be filled due to a lack of people with the required skills at a time when demand is expected to increase further.